How To Double Your Bitcoins Using Martingale Strategy

[BitcoinLeader]

Hi gamblers,

I just gambled for the first time with my Bitcoins. I tried it at Just-dice.com

I made a video of my gambling session and like to share it with you:
http://www.shortingbitcoins.com/how-i-doubled-my-bitcoins-on-just-dice-com-betting/

As you can see I doubled my bitcoins using the "Martingale" strategy with a little twist of mine.

Let me know what you think of it

[1714851815]

1714851815

[1714851815]

1714851815

[Zaih]

Strategies don't exist 

Grats on doubling your coins though!

[Light]

Strategies don't exist 

Grats on doubling your coins though!

Yeah, if it's truly random there isn't really a strategy that can adequately deal with variance, even with a giant bankroll.

[Birdy]

Good thing I bookmarked this link, got to use it so often already instead of having to explain it myself every time.:
http://coinbits.com/2013/01/05/how-to-bet-efficiently-on-satoshidice-and-why-you-shouldnt-use-the-martingale-method/

TL;DR: Martingale is no trick to give you better chances.

[BitcoinLeader]

Good thing I bookmarked this link, got to use it so often already instead of having to explain it myself every time.:
http://coinbits.com/2013/01/05/how-to-bet-efficiently-on-satoshidice-and-why-you-shouldnt-use-the-martingale-method/

TL;DR: Martingale is no trick to give you better chances.

Nice link. I think I was just super lucky then.

[uoyeparannog]

In fact martingale is the worst beting system for long run - usually works well for short ones (still with some risk, especially with too high inital bet), but will almost always rape Your ass totally if You'll try to rely on it for longer time. Non-progression based systems, or at least "weaker" progression is advised.

[b!z]

In fact martingale is the worst beting system for long run - usually works well for short ones (still with some risk, especially with too high inital bet), but will almost always rape Your ass totally if You'll try to rely on it for longer time. Non-progression based systems, or at least "weaker" progression is advised.

Yet they won't work in the long run either. The only real 'strategy' to win in gambling is to be the house

[marcovaldo]

I have an other strategy, based on variance

[Birdy]

In fact martingale is the worst beting system for long run - usually works well for short ones (still with some risk, especially with too high inital bet), but will almost always rape Your ass totally if You'll try to rely on it for longer time. Non-progression based systems, or at least "weaker" progression is advised.

There is no strategy involved in pure gambling games, it's chances and luck only.
If you want strategy, you will have to play games like poker that aren't 100% luck (e.g. bluffing is possible)

[b!z]

In fact martingale is the worst beting system for long run - usually works well for short ones (still with some risk, especially with too high inital bet), but will almost always rape Your ass totally if You'll try to rely on it for longer time. Non-progression based systems, or at least "weaker" progression is advised.

There is no involved in pure gambling games, it's chances and luck only.
If you want strategy, you will have to play games like poker that aren't 100% luck (e.g. bluffing is possible)

Poker is still based on odds. What are the chances that your hand is the best etc

[Birdy]

Poker is still based on odds. What are the chances that your hand is the best etc

True, the strategy part is rather small, but there is some.

[Meizirkki]

I did this too a year or two ago. I doubled my coins, then lost them all.

[marcovaldo]

I did this too a year or two ago. I doubled my coins, then lost them all.

This is usually what happens in the end when doing martingales

[gerXhonza]

I did this too a year or two ago. I doubled my coins, then lost them all.

This is usually what happens in the end when doing martingales

True, you must know when stop gambling and enjoying the profits, or you loose all

[Meizirkki]

I did this too a year or two ago. I doubled my coins, then lost them all.

This is usually what happens in the end when doing martingales

I was unfortunate enough to think of this strategy myself before reading about it. Damn it was addictive, for a few days I was getting twice the income I get by working

[marcovaldo]

Wow, you should have stopped and go for a world trip

[hunnaryb]

I did this too a year or two ago. I doubled my coins, then lost them all.

This is usually what happens in the end when doing martingales

I was unfortunate enough to think of this strategy myself before reading about it. Damn it was addictive, for a few days I was getting twice the income I get by working

Funny the bell in your head doesnt ring "If it sounds too good to be true, it is"

[marcovaldo]

I tried a martingale, lost 8 btc.

[BitcoinLeader]

I tried a martingale, lost 8 btc.

Ahw crapp !

The first time, I actually tried with 0.05 and I ended losing it after I got 0.10. I was betting Hi all the time.

In the video you can see I switch Hi and Lo and ultimately it let me double up again. Probably just really lucky again but I'll try it again soon and make a video.

[marcovaldo]

Ok, good luck